Maélo: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Maélo
Largest movements
- Stocks and contracts +€74,129
up €74,129 (+44.5%), from €166,451 to €240,580
- Receivables within one year -€8,444
down €8,444 (-30.0%), from €28,164 to €19,720
- Debts after one year +€51,143
up €51,143 (+104.7%), from €48,845 to €99,988
- Trade debts +€35,547
up €35,547 (+279.5%), from €12,719 to €48,266
- Current portion of long-term debt -€23,975
down €23,975 (-27.2%), from €88,038 to €64,063
- Tax, wage and social debts -€17,661
down €17,661 (-70.8%), from €24,952 to €7,291
- Other debts +€13,000
new in 2025: €13,000
- Gross operating margin -€61,865
down €61,865 (-78.6%), from €78,683 to €16,817
- Taxes -€11,086
down €11,086 (-82.6%), from €13,423 to €2,337
- Financial charges -€2,832
down €2,832 (-23.7%), from €11,966 to €9,134
- Depreciation -€2,150
down €2,150 (-38.5%), from €5,581 to €3,431
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €231,822 | €291,141 | +€59,320 | +25.6% |
| Fixed assets | 21/28 | €8,145 | €4,715 | -€3,431 | -42.1% |
| Intangible fixed assets | 21 | €5,731 | €2,969 | -€2,762 | -48.2% |
| Tangible fixed assets | 22/27 | €2,247 | €1,578 | -€669 | -29.8% |
| Furniture and vehicles | 24 | €2,247 | €1,578 | -€669 | -29.8% |
| Financial fixed assets | 28 | €168 | €168 | = | 0.0% |
| Current assets | 29/58 | €223,676 | €286,427 | +€62,750 | +28.1% |
| Stocks and contracts in progress | 3 | €166,451 | €240,580 | +€74,129 | +44.5% |
| Stocks | 30/36 | €166,451 | €240,580 | +€74,129 | +44.5% |
| Amounts receivable within one year | 40/41 | €28,164 | €19,720 | -€8,444 | -30.0% |
| Trade receivables | 40 | €28,164 | €19,720 | -€8,444 | -30.0% |
| Cash at bank and in hand | 54/58 | €28,520 | €26,127 | -€2,393 | -8.4% |
| Deferred charges and accrued income | 490/1 | €541 | - | -€541 | |
| Total equity and liabilities | 10/49 | €231,822 | €291,141 | +€59,320 | +25.6% |
| Equity | 10/15 | €57,268 | €58,533 | +€1,265 | +2.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,268 | €48,533 | +€1,265 | +2.7% |
| Amounts payable | 17/49 | €174,554 | €232,608 | +€58,054 | +33.3% |
| Amounts payable after more than one year | 17 | €48,845 | €99,988 | +€51,143 | +104.7% |
| Financial debts | 170/4 | €48,845 | €99,988 | +€51,143 | +104.7% |
| Amounts payable within one year | 42/48 | €125,709 | €132,620 | +€6,912 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €88,038 | €64,063 | -€23,975 | -27.2% |
| Trade debts | 44 | €12,719 | €48,266 | +€35,547 | +279.5% |
| Suppliers | 440/4 | €12,719 | €48,266 | +€35,547 | +279.5% |
| Taxes, remuneration and social security | 45 | €24,952 | €7,291 | -€17,661 | -70.8% |
| Taxes | 450/3 | €24,952 | €7,291 | -€17,661 | -70.8% |
| Other amounts payable | 47/48 | - | €13,000 | +€13,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,581 | €3,431 | -€2,150 | -38.5% |
| Other operating charges | 640/8 | €493 | €1,026 | +€532 | +108.0% |
| Gross operating margin | 9900 | €78,683 | €16,817 | -€61,865 | -78.6% |
| Operating profit (loss) | 9901 | €72,609 | €12,361 | -€60,248 | -83.0% |
| Financial income | 75/76B | €48 | €376 | +€328 | +683.7% |
| Recurring financial income | 75 | €48 | €376 | +€328 | +683.7% |
| Financial charges | 65/66B | €11,966 | €9,134 | -€2,832 | -23.7% |
| Recurring financial charges | 65 | €11,966 | €9,134 | -€2,832 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €60,691 | €3,603 | -€57,088 | -94.1% |
| Income taxes | 67/77 | €13,423 | €2,337 | -€11,086 | -82.6% |
| Profit (loss) for the period | 9904 | €47,268 | €1,265 | -€46,002 | -97.3% |
| Profit (loss) for the period to be appropriated | 9905 | €47,268 | €1,265 | -€46,002 | -97.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.